Reported Earnings • May 21
First quarter 2026 earnings released First quarter 2026 results: Revenue: kr2.85m (up 33% from 1Q 2025). Net loss: kr3.57m (loss widened 35% from 1Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Announcement • Apr 23
Neola Medical AB Reports Positive Safety Results from First Clinical Pilot Study Neola Medical AB reported final results from its clinical pilot study, confirming a favorable safety profile of Neola® across the studied patient population, including very low birth weight preterm born babies. The results provide important insights that support the development of Neola® and advance the next phase of clinical and regulatory activities. The clinical pilot study confirms that Neola® is safe and well tolerated across the studied patient population, including very low birth weight preterm born babies, representing an important milestone in the clinical development program. The study has provided valuable insights into how the technology performs in a clinical setting, helping to define the optimization of the device. The product is being sharpened by introducing lung collapse detection as a key capability, providing continuous monitoring with decision support for timely intervention. The study provided important insights into signal behavior in a clinical environment, which is expected in early-stage development of novel monitoring technologies. These findings have been addressed through refinement of signal processing and optimization of the device and its clinical application. Neola Medical AB is now focusing on high-value clinical use cases, such as the detection of significant pulmonary complications, including life-threatening lung collapse (pneumothorax), where the technology is expected to provide the greatest clinical benefit. To support the continued regulatory pathway in the United States, Neola Medical AB plans to engage with the U.S. Food and Drug Administration to align on the clinical and regulatory strategy. Subject to regulatory feedback, the company intends to initiate a clinical study in preterm born babies in the United States by mid 2027. Neola Medical AB’s first clinical pilot study was conducted at the neonatal intensive care unit at Södra Älvsborgs Sjukhus in Borås, Sweden. The study evaluated the safety and performance of Neola® in continuous lung monitoring in preterm born babies. A total of 10 babies were included, with gestational age from 28 weeks and a weight between 1,000–3,000 grams. New Risk • Feb 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr21m free cash flow). Earnings have declined by 8.3% per year over the past 5 years. Revenue is less than US$1m (kr8.3m revenue, or US$918k). Market cap is less than US$10m (kr72.2m market cap, or US$8.00m). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). 
